Livestock Mostly Higher
Morning Livestock Outlook
Technically, October cattle dropped Wednesday to where August settled at $104.50. It went through it to the support of July 28th at 103.65 and closed where August settled. Volume was light as it dropped but found buyers at 103.65 and reversed off the low to settle at 104.47. Wednesday was a technical trading day.
Need to monitor weights. Falling weights show packers want hogs. We feel hog numbers will drop over next two to three months before rebuilding late 2020 into 2021. Could see 2% to 4% decline due to sows aborted and not bred during March 2020 through early May 2020.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.